Denmark Signs Cooperation Agreement on Fintech with Singapore

Written by: Bridgewest

Posted: 2017-08-14

Denmark is one of the most innovative economies in Europe which is why modern technology has found its way in many branches of the services sector. The number of Danish companies using technology to offer online payment solutions or robo-advisory services has increased considerably in the past year which why the government has signed a fintech cooperation agreement with Singapore, one of the most advanced countries in Southeast Asia in terms of financial technology. Our lawyers in Denmarkcan assist foreign investors who want to open fintech companies here.

The agreement to connect Danish and Singapore companies

Most Danish companies’ services use Internet platforms in order to simply the interaction of their staff with the customers. Moreover, the company registration procedure in Denmark is also carried out online which is why many foreign investors from all over the world are expanding their businesses here. These are just two reasons why the agreement with Singapore comes at a very opportunistic time for Denmark. The two governments hope to help Danish and Singapore companies to create partnerships related to innovation in the financial services sector.

The agreement is also meant to offer certain facilities related to sharing information on the latest fintech innovations and regulations related to the financial industries in both countries.

Our Danish lawyers can explain the legislation related to the financial sector applicable in this country.

The agreement between Denmark and Singapore promotes business expansion opportunities

The new fintech agreement between Denmark and Singapore also aims at helping Singapore companies seeking to expand their operations in Denmark, as well as Danish companies interested in accessing the Singapore market. Assistance in understanding the rules imposed in the other countries will also be provided under the memorandum of understanding.

Denmark is very interested in encouraging innovation in the financial industry, which is why it currently working on the creation of a FinTech Lab under the supervision of the Financial Services Authority.